Baogang Group records strong export growth

State-owned iron and steel manufacturer Baogang Group recorded year-on-year growth of 16.33 percent in export volume in the first three quarters of 2018, ranking it first among its competitors, according to Baotou Daily.

Established in 1954, Baogang Group is based in Baotou and is the largest steel business based in Inner Mongolia autonomous region. It is one of the oldest iron and steel industrial bases in China, with a large production base in the city. It is also the country’s largest scientific research and production base for rare earth metals.

In recent years, Baogang Group has been actively working with partners in neighboring countries, and increasing exports of products to countries involved in China’s Belt and Road Initiative (BRI). In the first 10 months of this year, the company exported steel products to 44 BRI countries, accounting for 90.98 percent of its export volume.

A workshop owned by Baogang Group, an iron and steel manufacturer based in Baotou, North China’s Inner Mongolia autonomous region [Photo/nmgnews.com.cn]